Roth IRA

Practice

New Kid on the Block: The ‘MyRA’

A new type of retirement account, "MyRA," which President Obama proposed during his 2014 State of the Union address on January 28 and authorized the creation of yesterday, is intended to encourage retirement savings by workers who currently aren’t participating in an employer-sponsored retirement plan.
Tax

IRS Issues Guidance on Roth 401(k) Rollovers

The Roth 401(k) has failed to gain much traction in the workplace. But a provision in ATRA was designed to grease the skids. Now the IRS has provided valuable guidance on in-plan Roth 401(k) rollovers in Notice 2013-74.
Tax

Obama's New Budget Proposal: $3 Million Cap on IRAs

The new budget plan that President Obama will unveil on April 10 includes an unprecedented tax whammy for retirement savers: A new $3 million cap on IRA assets and other tax-preferred retirement accounts.